Reviving Argentina

History is replete with great nations that decline into tragic despotism and poverty, but less common is the story of national revival and renewed prosperity. The latter is the challenge for Argentina’s new President-elect Mauricio Macri, who swept away 12 years of Peronist rule on Sunday in some rare good news for global freedom.

The Buenos Aires Mayor has a heroic task ahead, with an economy in recession and 25% annual inflation. Yet Argentines deserve credit for showing more fight than Brazilians and Venezuelans have...

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